Monday, 14 March 2016

MODEST MONDAY…AMID A CHOPPY SESSION

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Domestic equity indices BSE Sensex and NSE Nifty ended the session in green on Monday on account of buying by investors in the front line blue chips counters.
Sensex rose 86.29 points to 24804.28. Nifty failed to hold 7550 level in trade today, up 28.55 points to 7538.75 at close. Sentiments also remained upbeat due to firm trend at other Asian markets, tracking weekend gains at the US markets. Overall market breadth on BSE remained negative in the ratio of 1,321:1,331, while 167 scrips remained unchanged. Barring the metals, energy and consumer durables indices, all other major indices on the BSE ended with gains. Banking, industrials, basic materials and oil & gas indices were among the top gainers. Even the mid-cap and small-cap indices ended with modest gains. The India VIX (Volatility) index was up 0.02% to 17.1025.The Indian Rupee was trading up by one paise at 67.04 per US dollar.On the global front, China's Shanghai Composite index closed higher 1.7% and Hang Seng up 1.2%The Asian markets rallied on Monday, with major averages extending a global rally posting good gains, ahead of central banks in two of the world’s three biggest economies reviewing policy this week. The Bank of Japan, which adopted a negative interest rate in January, will conclude a policy review on Tuesday and a Federal Reserve meeting will be ending on WednesdayBut some caution ahead of consumer inflation data, due after the close of markets, tempered gains. Analysts polled by Reuters expect a 5.6 per cent rise in consumer prices in February from 5.69 per cent in January, which could leave the door open for a rate cut by the Reserve Bank of India (RBI).Data earlier showed wholesale price inflation had fallen a bigger-than-expected 0.91 per cent in February, easing for a 16th consecutive month.

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